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California Might Stop Making Necessary Debt Payments for 2 Years

California Might Stop Making Necessary Debt Payments for 2 Years
The California State Capitol building in Sacramento, Calif., on April 18, 2022. John Fredricks/The Epoch Times
John Moorlach
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Commentary
It’s July. The California State Legislature has successfully met the budget submission deadline of June 15, and it was signed by the governor. There was one small fly in the ointment: how to cut $12 billion in spending? All while trying to provide $750 million in tax credits annually to one specific industry: Hollywood. Go figure.
John Moorlach
John Moorlach
Author
John Moorlach is the director of the California Policy Center's Center for Public Accountability. He has served as a California State Senator and Orange County Supervisor and Treasurer-Tax Collector. In 1994, he predicted the County's bankruptcy and participated in restoring and reforming the sixth most populated county in the nation.